Home Price Sales Up In Chicago, by Harold Willig

Good news for property investor owners in the Chicago single-family home market: home prices have posted the biggest gains in 12 months.

According to Crain’s Real Estate Daily, “The region's single-family home prices were up 3.1% in April from a year earlier, according to the S&P/Case-Shiller Home Price Indices. It was the largest year-over-year increase in Chicago prices in 13 months, since a 3.2% gain in March 2015.”

For March 2016 and several months prior, Case-Shiller reported year-over-year Chicago price increases of 2 percent or less. (By contrast, home prices were up 5% on average across the U.S.)

"The home price increases reflect the low unemployment rate, low mortgage interest rates and consumers' generally positive outlook," David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices,

For the full article, please see Crain’s “Home Prices Post Biggest Gain in over a Year.”